According to Scotsman’s Guide and Black Knight:

“Median U.S. home prices fell on a month-over-month basis in August for a second consecutive month, according to real estate analytics company Black Knight. The declines in August and July mark the sharpest monthly contractions in home prices in 13 years.

The largest price declines were concentrated on the West Coast, with San Jose seeing a drop of 13% (equating to a $203,000 decline for the median home) since June. It was followed by San Francisco (with a drop of 10.8%, or $137,000) and Seattle (down 9.9% for a loss of $82,500 in home value).”

The bottom line is the price of housing in coming down.

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